The state has partnered with the federal government and two nonprofit foundations to provide every child in foster care in the state with a funded, tax-advantaged savings and investment account. This makes Hawaii the first state to offer such comprehensive services.
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What you need to know
- Hawaii’s program builds on the federal Fostering the Future initiative, which provides Section 530A savings accounts – so-called Trump accounts – for foster children born between 2025 and 2028
- Under the Hawaii program, the federal government will provide a seed capital contribution of $1,000 for foster children born between 2025 and 2028; the Michael & Susan Dell Foundation will donate $250 to foster children ages 10 or younger born before 2025; and the Ed Freedman Stable Road Foundation will support eligible foster children ages 11 to 17 with a $250 contribution
- Previously, foster children ages 11 to 17 were not eligible to have a savings account set up in their name under Section 530A
- Children in the foster care system can access their accounts once they turn 18
“Our responsibility is to give every child the opportunity to succeed, especially those who rely on the state for care,” said Gov. Josh Green. “By ensuring that every eligible foster child has an investment account, we are giving these young people a stronger foundation as they reach adulthood. I am deeply grateful to the Michael & Susan Dell Foundation and the Ed Freedman’s Stable Road Foundation for helping to make Hawaii the first state in the country to achieve this.”
Hawaii’s program builds on the federal Fostering the Future initiative, which provides Section 530A savings accounts – so-called Trump accounts – for foster children born between 2025 and 2028. The national initiative is supported by the nonprofit advocacy group Invest America.
Under the Hawaii program, the federal government will provide a seed capital contribution of $1,000 for foster children born between 2025 and 2028; the Michael & Susan Dell Foundation will donate $250 to foster children ages 10 or younger born before 2025; and the Ed Freedman State Road Foundation will support eligible foster children ages 11 to 17 with a $250 contribution.
Previously, foster children ages 11 to 17 were not eligible to have a savings account set up in their name under Section 530A.
“Every child in Hawaii deserves a chance to reach their full potential, and no keiki should be left behind, regardless of their circumstances,” said Ed Freedman, founder of the Stable Road Foundation. “The federal government and the Michael & Susan Dell Foundation care for our foster children up to age 10 – that’s why we’re stepping in and providing $250 in seed money for the Trump account of every foster child in Hawaii ages 11 to 17, the group no one else covered. We’re proud to work with Governor Green and Invest America to make Hawaii the first state in the country where every foster child of any age starts with a funded account – and we’re making the appeal to leaders across the state and.” the nation to do the same.”
Children in the foster care system can access their account once they turn 18. Program administrators said the accounts are intended to provide those exiting the system with a financial foundation that can help support education, home ownership, entrepreneurship and other investments in adulthood.
Michael Tsai covers local and state politics for Spectrum News Hawaii. He can be reached at michael.tsai@charter.com.
https://spectrumlocalnews.com/hi/hawaii/news/2026/07/06/children-in-hawaii-foster-system-to-receive-savings-account–seed-money
